of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements. Readers are cautioned that actual results, levels of activity, safety, efficacy, performance or events and circumstances could differ materially from those expressed or implied in Alumis' forward-looking statements due to a variety of risks and uncertainties, which include, without limitation, risks and uncertainties related to Alumis' ability to advance ESK-001 and its other clinical candidates and to obtain regulatory approval of and ultimately commercialize Alumis' clinical candidates, the timing and results of preclinical and clinical trials, Alumis' ability to fund development activities and achieve development goals, Alumis' ability to protect its intellectual property and other risks and uncertainties described in Alumis' filings with the Securities and Exchange Commission $(SEC.UK)$, including those described from time to time under the caption "Risk Factors" and elsewhere in Alumis' current and future reports filed with the SEC, including its Quarterly Report on Form 10-Q for the quarter ended June 30, 2024. Alumis explicitly disclaims any obligation to update any forward-looking statements except to the extent required by law.
ALUMIS INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (Unaudited) Three Months Ended Nine Months Ended September 30, September 30, ------------------- --------------------- (in thousands) 2024 2023 2024 2023 ----------------- -------- -------- --------- --------- Operating expenses: Research and development expenses $ 87,824 $ 37,788 $ 178,350 $ 103,071 General and administrative expenses 10,575 5,971 23,782 14,971 ------- ------- -------- -------- Total operating expenses 98,399 43,759 202,132 118,042 ------- ------- -------- -------- Loss from operations (98,399) (43,759) (202,132) (118,042) Other income (expense): Interest income 5,322 951 8,153 2,509 Change in fair value of derivative liability -- (551) (5,406) (119) Other income (expense), net (40) (18) (89) (41) ------- ------- -------- -------- Total other income (expense), net 5,282 382 2,658 2,349 ------- ------- -------- -------- Net loss $(93,117) $(43,377) $(199,474) $(115,693) ------- ------- -------- -------- Other comprehensive income (loss) Unrealized gain (loss) on marketable securities, net 140 (3) 137 127 ------- ------- -------- -------- Net loss and other comprehensive loss $(92,977) $(43,380) $(199,337) $(115,566) ======= ======= ======== ======== ALUMIS INC. CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) September 30, December 31, (in thousands) 2024 2023 ---------------------------------- --------------- -------------- Assets Current assets: Cash and cash equivalents $ 213,417 $ 45,996 Restricted cash -- 113 Marketable securities 148,453 2,956 Research and development prepaid expenses 12,241 2,661 Other prepaid expenses and current assets 3,236 1,631 ----------- ---------- Total current assets 377,347 53,357 Restricted cash, non-current 1,024 1,024 Property and equipment, net 21,429 22,441 Operating lease right-of-use assets, net 12,752 12,783 Other long-term assets 7 7 ----------- ---------- Total assets $ 412,559 $ 89,612 =========== ========== Liabilities, Redeemable Preferred Stock and Stockholders' Equity (Deficit) Current liabilities: Accounts payable $ 6,444 $ 1,118 Research and development accrued expenses 18,140 10,946 Other accrued expenses and current liabilities 7,464 7,087 Operating lease liabilities, current 1,467 1,720 ----------- ---------- Total current liabilities 33,515 20,871 Operating lease liabilities, non-current 29,631 30,860 Share repurchase liability 1,024 1,771 ----------- ---------- Total liabilities 64,170 53,502 ----------- ---------- Redeemable convertible preferred stock -- 375,370 Stockholders' equity (deficit) Preferred stock -- -- Common stock 5 1 Additional paid-in-capital 912,037 25,055 Accumulated other comprehensive income 139 2 Accumulated deficit (563,792) (364,318) ----------- ---------- Total stockholders' equity (deficit) 348,389 (339,260) ----------- ---------- Total liabilities, redeemable convertible preferred stock and stockholders' equity (deficit) $ 412,559 $ 89,612 =========== ========== Alumis Contact Information Teri Dahlman Red House Communications teri@redhousecomms.com
(END) Dow Jones Newswires
November 13, 2024 16:05 ET (21:05 GMT)
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